ScotRail Train Driver pension?

[Ciel]

Hello!

I'm currently deciding whether or not I'd like to be a train driver.

I'm a fire fighter at the moment, and I'm finding it hard to year myself away from it... One of the main reasons in the safety of the pension.

I earn £30k a year.
I contribute 12% of my wage into a pension.
My employer contributes about 14%>
I can retire at 55 with 50k lump sum and 12k annual pension payment.
I can also retire at 60 with 70k lump sum and 16k APP.

Can anyone inform me how the ScotRail train driver pension reflects?

In particular, the pension contribution, pension age, whether it is paid until death, lump and APP.

Thank you!

 

[Kasw]

Similar boat to the original poster, but Police officer not fire fighter. Would be very interested on some insight into this

 

[Rabbyboy]

Hello!

I'm currently deciding whether or not I'd like to be a train driver.

I'm a fire fighter at the moment, and I'm finding it hard to year myself away from it... One of the main reasons in the safety of the pension.

I earn £30k a year.
I contribute 12% of my wage into a pension.
My employer contributes about 14%>
I can retire at 55 with 50k lump sum and 12k annual pension payment.
I can also retire at 60 with 70k lump sum and 16k APP.

Can anyone inform me how the ScotRail train driver pension reflects?

In particular, the pension contribution, pension age, whether it is paid until death, lump and APP.

Thank you!

Pm'd you. Just a few questions

 

[Ciel]

Similar boat to the original poster, but Police officer not fire fighter. Would be very interested on some insight into this

I just got off the phone with the Railways Pension provider, and I have been informed that it depends where HR will base me, but generally:

- contributions will be 10% of my salary.
- Minimum pension age is around 60/62.
- If I am on a final salary pension, my Annual Pension Payment will be = (Final Salary x Number of Years worked) / 60.
- My lump sum will be 1/40 of my APP.
- So if I was on a salary of £47k and worked 33 years, my APP would be £25,850.
- My lump sum would be £10,340.

The knowledgeable staff member did say again that this is just generally what it would be, and exact amounts would have to be gained from HR.

Can any current train driving staff weigh in on this? Does this look correct?